Markets Advance On Hopes Of Federal Reserve
The markets are moving nicely higher ahead of the FOMC Policy Statement at 2:15pm ET. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $138.83, +1.25 (+0.91%). All eyes and ears are waiting to see and hear if interest rates will truly remain low through 2014. In addition, the market continues to hold onto hope of further quantitative easing. Based on the action today, the markets are feeling lucky.
Apple Inc. (NASDAQ:AAPL) continues to soar, hitting new all time highs today. It is currently trading at $561.40, +9.40 (+1.70%). Apple has a major weighting in the S&P 500 and the NASDAQ 100. Therefore, the indexes will follow the stock closely.
The party continues across the markets. Europe has faded from the headlines and the United States economy seems to be returning to form thanks to the Federal Reserve and their print tons of money policy. While euphoria returns, smart traders are eyeing shorts.